Vimeo (NASDAQ:VMEO) Rating Increased to Overweight at Piper Sandler

Piper Sandler upgraded shares of Vimeo (NASDAQ:VMEO) from a neutral rating to an overweight rating in a report released on Tuesday, MarketBeat Ratings reports. The firm currently has $10.00 price objective on the stock, up from their previous price objective of $7.00.

VMEO has been the topic of several other research reports. TD Cowen boosted their price target on Vimeo from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Truist Financial boosted their target price on Vimeo from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th.

Vimeo Price Performance

Vimeo stock opened at $7.14 on Tuesday. Vimeo has a one year low of $3.43 and a one year high of $7.90. The business’s fifty day moving average is $5.93 and its 200 day moving average is $4.90. The stock has a market capitalization of $1.18 billion, a PE ratio of 35.70 and a beta of 2.23.

Vimeo (NASDAQ:VMEO) last announced its earnings results on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Vimeo had a return on equity of 8.56% and a net margin of 8.08%. The firm had revenue of $104.56 million during the quarter, compared to analysts’ expectations of $99.48 million. During the same quarter in the previous year, the business earned $0.05 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts expect that Vimeo will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Vimeo

A number of hedge funds have recently bought and sold shares of the company. EP Wealth Advisors LLC acquired a new position in Vimeo in the third quarter worth approximately $51,000. Hutchens & Kramer Investment Management Group LLC bought a new position in shares of Vimeo during the 3rd quarter worth about $54,000. DekaBank Deutsche Girozentrale bought a new stake in Vimeo in the second quarter valued at about $42,000. Vanguard Personalized Indexing Management LLC acquired a new position in Vimeo in the second quarter valued at about $41,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Vimeo by 42.4% during the second quarter. Nisa Investment Advisors LLC now owns 17,318 shares of the company’s stock worth $65,000 after purchasing an additional 5,160 shares in the last quarter. 84.97% of the stock is currently owned by institutional investors and hedge funds.

Vimeo Company Profile

Vimeo, Inc, together with its subsidiaries, provides video software solutions worldwide. It provides the video tools through a software-as-a-service model, which enables its users to create, collaborate, and communicate with video on a single platform. The company also offers over-the-top OTT streaming and monetization services; AI-driven video creation and editing tools; and interactive and shoppable video tools.